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Iteration Three - Prelude

Iteration Three
Iteration Three - Prelude
By Oliver Jumpertz • Issue #1 • View online
Web 3 is present nearly everywhere these days, and a lot has changed since I joined the space over a year ago. Projects came and went, Tech Twitter became a place where Web 3 is omnipresent, and some people made a few million dollars selling NFTs. Nothing special, or is it? Well, we will find this out together.
This newsletter is going to be a weekly installment, packed with information from the space, all for you. Expect a few tutorials, analyses of projects, a few showcases, opportunities, and everything else that might be interesting for you. The overall goal is to keep you informed, so you don’t have to spend more time searching the internet than you might want to. And from time to time, this newsletter will try to surprise you. I won’t tell you anything specific, but you will probably like it!

Why Web 3 Matters
The Web 3 we usually talk about is more the decentralized part of the overall “Web 3” that Sir Tim Berners-Lee once imagined. To be honest, we leave out some pretty specific parts, but it doesn’t make the web that Web 3 advocates evangelize less important.
Let’s just take a look at some of the advantages Web 3 provides:
  1. Cryptocurrencies provide a way of payment and even democracy through voting.
  2. NFTs provide a way for artists to sell their digital art and come with utilities that might even fully replace digital tickets one day.
  3. And decentralized computing? Just imagine the largest cloud ever seen on earth, not owned by a single entity, but by every one of us. And every single one of us gets paid when our hardware does some work for someone else.
It’s exciting, and we are still at the very beginning of all of this. The future could be even brighter than we can currently imagine.
Cryptocurrencies, like Bitcoin and Ether, are on the rise
Cryptocurrencies, like Bitcoin and Ether, are on the rise
Why is this important? Well, because we live in a world where a few mighty entities control a majority of everything we do each day.
  1. Amazon dominates e-commerce in the western world.
  2. AWS dominates the cloud world.
  3. Google dominates search.
  4. Our money is controlled by institutions printing more whenever they feel like it.
  5. And that money is backed by nothing else than promises.
Decentralization, though, fixes a few of those issues.
  1. Decentralized systems have no owner. They are the sum of many smaller parts - contributions by individuals, be it hardware, software, or money. The majority decides, and not the minority.
  2. Cryptocurrencies can’t simply change the rules they are based on. When there is only limited supply, that’s set in stone forever.
  3. You can hypothetically use cryptocurrencies nearly everywhere. Not too many merchants might accept it now, but sending money to your family? No problem. And there are those early adopters that already do accept crypto when you purchase.
  4. And for the rest, some credit cards are backed by crypto already, exchanging in the background as you pay the merchant in FIAT.
Let your fantasy flow for a little more, and you probably begin to see the benefits and probably even more of them.
Decentralized systems are like a net, where many nodes make up the whole system.
Decentralized systems are like a net, where many nodes make up the whole system.
Web 3 is still a little like the wild west, and we probably won’t survive for long without some form of regulation. But it’s exciting times. We are explorers sailing to unknown shores, curious to discover what awaits us where we arrive and go on land. And every one of you, interested in this space and willing to learn, can be such an explorer. We have a chance to shape the field and leave a mark. And we have the opportunity to improve the world a little, take some power back from corporations controlling the markets, gain freedom back from states censoring our opinions, and perhaps even become rich because we made the suitable investment at the right time.
And there is more! Web 3 is a fantastic opportunity for developers to work with the latest technology and on exciting projects. Solidity, as the language of the Ethereum Virtual Machine, is relatively straightforward to learn and rewarding. Your first smart contract is up in around half an hour, which opens a whole world of opportunities to build exciting software. And companies currently hire like crazy. Especially the DeFi space is exploding. And if that is nothing for you, even Reddit hires engineers interested in blockchain and NFTs to advance their platform further. Still not enough? One of the most popular payment providers, Stripe is also building a crypto team. Wait for a few weeks or months, and you will see other large, more traditional companies also begin to hire Web 3 engineers, both in the frontend and backend.
The End Of This Issue
That’s it for this prelude. It’s only an introduction to give you a slight idea of what this newsletter is going to be about. I hope you enjoyed it so far, and I’d love to see you back for the next issue, with way more content, and hopefully, many more people who enjoy reading all the exciting stuff happening around us right now.
Enjoy your weekends, spend time with your families, and don’t forget to relax a little from time to time. Especially this time of the year is great to slow down a little, reflect on the journey behind you, and refresh yourself for a new year about to start soon.
Yours sincerely,
Oliver
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Oliver Jumpertz

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